IBT Staff Reporter

The Berlin film festival, which last year set Iranian drama A Separation on the path to global fame, has selected an edgier line-up than normal in 2012 with several up-and-coming directors in the main competition.

Iconic 1960s band The Beach Boys will perform together for the first time in more than 20 years at the Grammy Awards on Sunday, organizers said.

Gay marriage proponents in the Pacific Northwest cheered a U.S. court ruling on Tuesday that overturned a California ban on same-sex nuptials, in what they saw as boost to their cause a day before a key vote to legalize such unions in Washington state.

Struggling Finnish phone maker Nokia plans to cut 4,000 more jobs at its plants in Finland, Hungary and Mexico as it seeks to cut costs by moving smartphone assembly work to Asia.

Stocks fluctuated around break-even on Wednesday as investors waited for Greece to accept tough reforms in exchange for a new bailout, but underlying confidence kept the Dow near its almost four-year high notched on Tuesday.

Russia's Kaspersky Lab reported that sales growth slowed substantially last year as the world's No. 4 maker of anti-virus software said its business was starting to mature.

Wall Street has been lashing out against the Volcker rule since it was proposed, but a senior Goldman Sachs executive said on Wednesday the trading restriction might actually help the investment bank's profitability.

Ericsson, the world's largest telecommunications network equipment maker, has been sued for more than $330 million by Airvana Network Solutions Inc, which accused it of stealing trade secrets and trying to drive it out of business.

The U.S. central bank may need to buy more bonds to bolster a housing market whose distress is at the heart of a frustratingly slow economic recovery, a top Federal Reserve official said on Wednesday.

European Central Bank policymakers are still divided on what contribution the ECB could make to a restructuring of Greece's sovereign debt, two euro zone monetary policy sources said on Wednesday.

Taxes go uncollected, deficit targets are routinely missed, job cuts from the state payroll are postponed, privatizations have barely begun and pharmacies still shut in the middle of the day.

Shares of Avid Technology Inc jumped 25 percent to a six-month high after the maker of digital audio and video editing products reported a quarterly profit for the first time in four years.

The Los Angeles Clippers were dealt a blow as starting guard Chauncey Billups was ruled out for the rest of the NBA season with a torn left Achilles tendon, the team said Tuesday. He will also miss this year's London Olympics.

Veronika Szalai had just graduated from elementary school when Nokia, the Finnish phone maker, opened a factory by the Danube in Komarom. The 27-year-old, who has worked here for years, now faces unemployment as the company implements major layoffs.

Sprint Nextel posted a wider quarterly loss because of the higher costs of selling Apple Inc's iPhone and the popular device delivered a smaller-than-expected boost to subscriber numbers, sending the company's shares down 2 percent.

Stocks gave up early gains on Wednesday as the Dow hovered at its highest level in nearly four years and investors waited for Greece to accept tough reforms in exchange for a new bailout.

British satellite operator Inmarsat has not received any takeover approaches, a source close to the company said on Wednesday, after speculation had driven the shares up as much as 10 percent.

Google will pledge to license on fair and reasonable terms the patents it acquires through buying Motorola Mobility, said a person familiar with the matter, in a bid to allay regulatory and users' concerns.

Concerns about shrinking profit margins at Silicon Graphics International sparked a sell-off in the company's stock that wiped away a quarter of its value, a day after it posted weak quarterly results and slashed its full-year earnings outlook.

Germany's Deutsche Bank will defer any part of an employee's bonus above 200,000 euros ($264,800) this year, a source close to the bank said, making it the latest industry player to limit pay in the face of fierce criticism of the industry.

Growth in the world beer market picked up to reach 2.7 percent in 2011 as growth continued to strengthen driven by emerging markets, and is predicted to grow at 2.5 percent this year, industry research group Plato Logic said on Wednesday.

Supporters of bringing a Las Vegas-style casino to New York have launched an extensive ad and lobbying campaign in a push to gain public and political support for the governor's proposal.

Applications for home mortgages jumped last week, fueled by increased demand for refinancing as interest rates fell, an industry group said on Wednesday.

If Daniel Radcliffe boasted the magical powers of his fictional Harry Potter character, he would probably turn the members of the Academy into toads.

The Weinstein Company's new video on demand label, Radius-TWC, has picked up Bachelorette, a Sundance movie starring Kirsten Dunst, the company's co-presidents, Tom Quinn and Jason Janego, said Tuesday.

As a part of a new deal between the city's hotels and their unions, personal panic alarms will be distributed to hotel staff members later this year.

Time will tell who will fill the recently vacated judge's chairs on The X Factor, but one thing's for sure -- it won't be Beyonce Knowles. At least, if Simon Cowell is to be believed.

An audit of the PA found the agency is dysfunctional and said the World Trade Center project is costing billions in cost overruns.

A U.S. district court judge pushed Dick Clark Productions and the Hollywood Foreign Press Association to end their bitter legal scuffle and reach a settlement.